Monday, February 10th, 2014

While the housing market may have completed most of its backflips and jaw-dropping acrobatics, it is now showcasing steady knees and good traction. That may mean fewer riskier tricks on the half-pipe but more endurance and stability over the long haul. After several years of uncertainty followed by grueling rehabilitation, steadier performance that matches expectation resonates well with both current and prospective homeowners.

In the Twin Cities region, for the week ending February 1:

  • New Listings decreased 16.9% to 934
  • Pending Sales decreased 9.4% to 788
  • Inventory decreased 9.5% to 11,936

For the month of January:

  • Median Sales Price increased 12.4% to $179,900
  • Days on Market decreased 12.3% to 93
  • Percent of Original List Price Received remained flat at 93.5
  • Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |
Monday, February 3rd, 2014

Optimistic housing start stats encourage rumors that 2014 should be another year of recovering. Activity may not be volatile enough to garner bold headlines, which suits residential real estate markets just fine. The steady-as-she-goes pace and quietly consistent good news should bring out a few more previously underwater sellers to list their homes. Keep an eye out for fresh inventory and keen interest from hungry buyers.

In the Twin Cities region, for the week ending January 25:

  • New Listings decreased 11.9% to 914
  • Pending Sales decreased 13.0% to 663
  • Inventory decreased 8.6% to 12,050

For the month of December:

  • Median Sales Price increased 13.1% to $190,000
  • Days on Market decreased 20.4% to 86
  • Percent of Original List Price Received increased 1.0% to 94.7%
  • Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |
Monday, February 3rd, 2014

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Andy Fazendin (2013 President, Minneapolis Area Association of REALTORS) and Emily Green (2014 President, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Posted in Monthly Skinny Video |
Tuesday, January 28th, 2014

Some say the big story of 2014 will be higher interest rates, some say it will be more inventory while others say it will be less foreclosure activity. The truth is likely to be an amalgamation of all of the above. The year 2013 was marked by variable but steady job growth, a good leading indicator of market activity. While consumers may be uneasy about higher rates, economic improvements can potentially offset any negative impact on affordability. The seasoned agent will recall a time when plenty of consumers were vying for properties when rates were double and triple what they are now.

In the Twin Cities region, for the week ending January 18:

  • New Listings decreased 8.3% to 989
  • Pending Sales decreased 24.8% to 591
  • Inventory decreased 9.5% to 11,918

For the month of December:

  • Median Sales Price increased 13.1% to $190,050
  • Days on Market decreased 20.4% to 86
  • Percent of Original List Price Received increased 1.0% to 94.7%
  • Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |
Tuesday, January 21st, 2014

The years of 2012 and 2013 are going to be noted as a period of recovery for housing, and 2014 should prove to be more of the same but perhaps with not as much force. As we begin to look for signs of a stabilized residential real estate market, we may see fewer sales than in recent years, but these sales should be of a higher quality in that they will have been made with stronger lending standards to people with stronger jobs in a stronger economy. Even this early in the year, we should begin to see signs of new inventory coming onto the market with a more balanced months’ supply of inventory and well-paced market times.

In the Twin Cities region, for the week ending January 11:

  • New Listings decreased 14.6% to 958
  • Pending Sales decreased 19.5% to 556
  • Inventory decreased 9.8% to 11,810

For the month of December:

  • Median Sales Price increased 13.1% to $190,000
  • Days on Market decreased 20.4% to 86
  • Percent of Original List Price Received increased 1.0% to 94.7%
  • Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |